In terms of the coal supply agreement with Eskom, the Optimum coal mine is obliged to supply 400 000 t of coal to Eskom’s Hendrina power plant each month at the price of ZAR 201.46/t.
Eskom has had discussions with the business rescue practitioners with a view to ensuring that they continue to perform, in terms of the coal supply agreement, and coal supply to the power plant is resuscitated without further delays.
Eskom is currently considering the business rescue practitioners’ proposal to reduce the monthly coal supply tonnage from 400 000 t to 200 000 t for the remainder of contract period given the precarious financial position of the Optimum coal mine.
To date, Eskom has not agreed to any price adjustment with the business rescue practitioners, and the allegations made in the City Press article on 29 April are factually incorrect and without basis. Should Eskom decide to accept any reduction of the coal supply tonnage, as proposed by the business rescue practitioners, such will be done at the current coal supply contract price.
Eskom is not in possession of the business rescue plan, however, it can confirm that it has requested the plan so it can engage amicably as an affected party.
Read the article online at: https://www.worldcoal.com/power/01052018/eskom-in-talks-with-optimum-coal-mine/